The United Arab Emirates is the largest trade partner in the Organisation of Islamic Cooperation (OIC), with a 2014 trade volume of US$121.7 billion (AED 444b) accounting for 15.2 percent of total intra-OIC trade, according to Secretary-General of the Federation of UAE Chamber of Commerce and Industry, Humaid bin Salim. Turkey had the next highest level of trade with US$77.8 ...

Sharjah Businesswomen Council (SBWC) is to launch a new start-up incubator programme to help Emirati women entrepreneurs bring new business ideas to life. Formed under the patronage of Sheikha Jawaher Bint Mohammed Al Qasimi, Honorary Chairperson of SBWC in collaboration with Education For Employment (EFE), the new initiative is called ‘Jeel’ (‘generation’ in Arabic) and will support start-ups in cities ...

The United Arab Emirates is the world’s third strongest country brand, according to the annual Nation Brand survey carried out by London-based consultancy Brand Finance. The UAE ranks after Singapore and Switzerland in the evaluation of the world’s top 100 nation brands, with a brand value of US$ 403 billion (AED 1.48 trillion). While the USA topped the Nation Brand ...

The UAE Ministry of Finance has announced that local Small and Medium-sized Enterprises (SMEs) can now register in the Federal Register of Suppliers free-of-charge in an effort to support Emirati startups. According to the terms, the SMEs must be owned by UAE citizens and must register with the Federal Register during the first two years of their establishment. The Ministry’s ...

The International Monetory Fund (IMF) has estimated the United Arab Emirates’ average economic growth at 3.6 percent for 2014, and forecasts 3.2 percent in 2015. Despite lower oil prices, sluggish global growth, and volatility regional markets, the UAE remains one of the fastest growing economies in the world with strong non-oil economy growth of 4.8 percent (2014). According to the ...

Abu Dhabi, Dubai, Ras Al Khaimah and Sharjah were listed among the world’s top cities in ‘Economic Potential’ by the 2014/2015 Global Cities of the Future report produced by fDI intelligence, a division of the Financial Times (FT) specialising in foreign direct investment. Abu Dhabi and Dubai were listed in the report’s overall Top 25 cities list, while Sharjah and ...

Sharjah 2015, the twelfth edition of the World Forum for Foreign Direct Investment, hosted by the Sharjah Investment and Development Authority (Shurooq) came to a close on Tuesday. Opened by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah this year’s World Forum marks the first time that the event has ...

Foreign direct investment (FDI) into the United Arab Emirates grew by 25 percent in 2014 to more than US$13 billion (AED 47.75b), equivalent to 5 percent of the nation’s gross domestic product (GDP), according to the Minister of Economy Sultan Bin Saeed Al Mansouri. The Minister made the remarks at the opening of Sharjah 2015, the twelfth World Forum for ...

The United Arab Emirates registered strong growth in private sector production, purchasing and employment during January, according to HSBC‘s monthly Purchasing Managers Index (PMI), compiled by Markit, a global financial information and services company. Experts predict a slowing in some economic activity during this year as a result of lower oil prices, however January’s index showed a three-month high. The ...

The Sharjah Investment and Development Authority (Shurooq) met with business and government leaders from the Kurdistan Region of Iraq earlier this month in Erbil, the region’s capital city. The authority’s visit came as part of an 150-strong delegation to Erbil representing 54 UAE government departments and major private sector businesses in conjunction with the second ‘TradeUAE Iraq’ exhibition. Iraq is ...